Evi Industries Stock Price, News & Analysis

EVI Industries, Inc. (EVI) reported record results for the second quarter and first half of fiscal 2022, with revenues of $61 million and $124 million, representing 6% and 8% increases, respectively. Gross profit reached $17 million and $34 million, up 17% and 24%, with gross margins at a record 27.7%. Net income grew to $0.53 million and $2.5 million. EVI also maintained a robust backlog of $120 million and completed the acquisition of Consolidated Laundry Equipment. Despite supply chain challenges, the company remains optimistic about long-term growth and profitability, supported by a solid balance sheet and ample liquidity.

EVI Industries, Inc. (AMEX: EVI) announced the completion of its mergers with Consolidated Laundry Equipment and Central Equipment Company on February 7, 2022. This strategic acquisition expands EVI's footprint in the southeastern U.S., where it already operates multiple businesses. EVI’s Chairman, Henry M. Nahmad, highlighted CLE's loyal customer base and operational strength, suggesting the merger will create a leading commercial laundry operation in the region. This marks EVI's 17th acquisition as part of its buy-and-build growth strategy.

EVI Industries, Inc. (EVI) has announced a definitive agreement to acquire Consolidated Laundry Equipment and Central Equipment Company, strengthening its market position in the Southeast U.S. The acquisition is expected to enhance EVI's revenue, which has exceeded $90 million, and integrate CLE's $17 million in annual revenue from commercial laundry products and services. With a focus on growth and operational excellence, EVI continues its 'Buy and Build' strategy, having acquired 17 companies since October 2016. The deal is pending closing conditions and may not be finalized.

EVI Industries achieved record operating results for the first quarter of fiscal 2022, ending September 30, 2021. Revenue rose 10% to $64 million, with gross profit up 32% to $18 million, and net income increasing to $2 million from $0.52 million year-over-year. Adjusted EBITDA soared by 78% to $4.4 million. Continued demand for commercial laundry products, strategic pricing adjustments, and operational optimizations contributed to these gains, despite challenges from supply chain disruptions. The company remains focused on growth through acquisitions and technology investments.

EVI Industries, Inc. (NYSE American: EVI) announced that Chairman and CEO Henry M. Nahmad will host virtual meetings with registered investors during the Baird Global Industrial Conference on November 11, 2021. EVI focuses on long-term growth and shareholder value through a buy-and-build strategy, having acquired 15 commercial laundry distributors in the past 48 months. With operations across 17 states, EVI provides comprehensive laundry solutions, including planning, installation, and maintenance services, catering to various sectors in North America, Latin America, and the Caribbean.

EVI Industries reported record operating results for the fiscal year ending June 30, 2021. Fourth-quarter revenue rose 19% to $65 million, with a gross profit increase of 22% to $16.4 million and net income rising to $6.8 million from a loss of $0.1 million. For the fiscal year, revenue increased 3% to a record $242 million, gross profit increased 8% to $60 million, and net income soared 982% to $8.4 million. The company achieved significant balance sheet improvements, reducing net debt by 68%. EVI's acquisitions of two businesses bolstered operations despite ongoing supply chain challenges.

EVI Industries, Inc. (NYSE American: EVI) will participate in the Jefferies Virtual Industrials Conference on August 4, 2021, with one-on-one meetings hosted by Chairman and CEO Henry M. Nahmad.

The company specializes in commercial laundry operations, offering equipment sales, leasing, and advisory services. They support various sectors, including retail and government, through installation and maintenance services. EVI emphasizes its safe harbor for forward-looking statements, addressing potential risks related to business strategies and economic conditions.

EVI Industries (NYSE American: EVI) announced that Chairman and CEO Henry M. Nahmad will hold one-on-one meetings with investors at the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021. EVI is implementing a long-term buy-and-build growth strategy in the commercial laundry sector, expanding from one distributor in Miami to 17 distributors across 26 locations and achieving over 700% annual revenue growth. The company offers advisory, consulting, and distribution services for commercial laundry operations, serving diverse customers.

EVI Industries reported record fiscal third quarter results with revenue hitting $62 million, a 6% increase year-over-year. Gross profit rose 14% to $15.8 million, leading to a gross margin of 25%. Adjusted EBITDA increased 43% to $3.0 million. For the nine-month period, revenue decreased 2% to $177 million, though gross profit rose 4%. The company executed acquisitions to bolster market share and continues to strengthen its balance sheet with $19.8 million in net debt as of March 31, 2021.